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In light of the recent bank closures, advisors Amanda Vaught, JD and David Vaught, CFA created a short video explaining the recent bank runs on Silicon Valley Bank and Signature Bank. They discuss: The regulatory environment that led to their collapse, The FDIC response, What this could mean for the Fed hiking rates, and How we think investors should think of the recent news.
The debt ceiling, the Fed, and continuing issuance of Treasury bonds appear daily in our news today. Their historic roots tell us something about how they have worked, or failed in the past. President Lincoln faced the daunting task of the Civil War with a traitorous military rebellion, a traditional limited federal budget, and a not yet complete national banking system. How he and his Treasury Secretary, Salmon Chase, confronted this multi-front crisis tells us a great deal about the successful origins of our financial system today.